Although it hasn’t turned up on Iris Oifigiuil yet, the BBC is this morning reporting that NAMA has had receivers appointed to a (Republic of) Ireland incorporated company that is part of a group operating from county Down in Northern Ireland. On 15th March 2013, Arthur Cave and William O’Riordan of PricewaterhouseCoopers were appointed receivers to Soll Holdings (ROI) Limited whose registered office is in county Louth and is a company owned by Michael O’Sullivan and whose directors are Michael O’Sullivan (51) and Carol Treer (63).
Soll Holdings (ROI) is reported by the BBC to own property at at Cruicerath in Donore, county Meath where in 2007 the company obtained planning permission to build almost 140 homes, along with shops and offices. The BBC reports the company owes its banks which include Ulster Bank and Danske Bank as well as NAMA €40m but that the value of its land has collapsed to €1m. Ouchie!